Demand for flat steel in Turkey was only moderate in July because of the seasonal summer slowdown, market participants told Fastmarkets.And local producers have now filled their order books until late September, they said on Friday August 2.Turkish steel prices increased on May 17 after a US import duty applied at a rate of 50%, introduced in August 2018, was cut back to the previous level of 25%....Read More
China's hot-rolled coil prices fell further on Monday August 5 on weak demand caused by pessimism sparked by the country's trade tensions with the United States.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($536-537) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,750 yuan per tonne, down 30 yuan per tonneDespite mills keeping their official ex-works prices steady, thin trading...Read More
Uncertainties surrounding the trade war between China and the United States sapped trading activity in both the futures and physical markets for Chinese rebar on Monday August 5, resulting in prices falling further.Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-551) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,730-3,760 yuan per tonne, down 20 yuan per tonneSeveral analy...Read More
Import prices for rebar in Singapore softened over the past week on ample supply from India and Turkey.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $485-490 per tonne for the week to Monday August 5, narrowing downward by $5 per tonne from the previous week.Mar...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Turkish steel producers have not made any deep-sea bookings at the start of this week because of soft demand for finished long steel, sources said on Monday August 5.After the mills booked several deep-sea cargoes in the week ending July 26, they have backed out of the market."The mills in Turkey want to sell some [rebar] before resuming their...Read More
More deals have been made in the United States pig iron market at higher prices because of improved market fundamentals, sources told Fastmarkets during the week ended Friday August 2.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $365-368 per tonne on Friday, widening upward from $365 per tonne a week before.Bookings of Ukraine-origin pig iron for September shipme...Read More
Domestic scrap prices in the Turkish market fell slightly over the past week due to weak demand for finished steel, sources said on Monday August 5.Several steel mills in the Izmir region reduced their buy prices for auto bundle scrap by around 20-55 Turkish lira ($4-10) per tonne over the past week.Long steel mill...Read More
Sentiment was soft in the CIS export slab market in the first week of August, with modest demand from major buying outlets as well as weaker sales of finished flat steel both in customers' markets and domestically."I do not think mills will be able to hold prices at their current level any longer. The slab market is very soft," one trader told Fastmarkets on Monday August 5.A recent booking of Rus...Read More
Uncertainties surrounding the trade war between China and the United States sapped trading activity in both the futures and physical markets for Chinese rebar on Monday August 5, resulting in prices falling further.Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-551) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,730-3,760 yuan per tonne, down 20 yuan per tonneSeveral analy...Read More
Aluminium alloys from China will be subject to at least 20% in tariffs by September while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets.That is because the new tariffs US President Donald Trump signaled against China will be on top of the Section 232 tariffs under an earlier act that cove...Read More
Rising ferro-vanadium prices in China continued to push the European market higher during the week ended August 2, while vanadium pentoxide (V2O5) prices climbed more than 10% in Chinese and European markets. Chinese, European ferro-vanadium prices continue to rise amid increased spot activityV2O5 prices move up amid tightness US prices edge down The export price for ferro-vanadium in China rose f...Read More
Demand for flat steel in Turkey was only moderate in July because of the seasonal summer slowdown, market participants told Fastmarkets.And local producers have now filled their order books until late September, they said on Friday August 2.Turkish steel prices increased on May 17 after a US import duty applied at a rate of 50%, introduced in August 2018, was cut back to the previous level of 25%....Read More
The three-month copper price on the London Metal Exchange continued its downtrend over Monday August 5, closing below the nearby $5,700-per-tonne support level to reach its lowest settlement since June 2017, while nickel futures near $15,000 per tonne. Nickel continued to trade down over the day, closing at $5,685 per tonne after slipping to an intraday low of $5,640 per tonne this morning and fai...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday August 2.ChinaKey drivers The Chinese silicon export market continued to remain stable week on week for the third consecutive week. The supply tightness and a sign of increased demand in the domestic market, amid resumed buying activity for August delivery from the secondary aluminum sector, have encouraged exporters t...Read More
Here are five Fastmarkets MB stories you might have missed on Monday August 5 that are worth another look.The United States will impose additional tariffs on Chinese goods entering the country from the start of September, according to US President Donald Trump, which could hit shipments of metals and minerals from China to the US and suppress commodity consumption in the former. JSW Steel (US...Read More
The 65% Fe iron ore derivative contract offered by the Singapore Exchange (SGX) registered record levels of open interest and monthly traded volumes in July 2019, with the contract seeing participation from a diverse set of physical and financial stakeholders in the iron ore value chain.Open interest for the contract, which is settled on the basis of Fastmarkets' index for iron ore 65% Fe Brazil-o...Read More
The three-month copper price on the London Metal Exchange continued its downtrend over Monday August 5, closing below the nearby $5,700-per-tonne support level to reach its lowest settlement since June 2017, while nickel futures near $15,000 per tonne. Nickel continued to trade down over the day, closing at $5,685 per tonne after slipping to an intraday low of $5,640 per tonne this morning and fai...Read More
Seaborne iron ore prices tumbled for a second day on Monday August 5 amid pessimistic sentiment generated by China's ongoing trade war with the United States, which picked up in intensity toward the end of last week.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $100.56 per tonne, down $7.17 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $99.06 per...Read More
Uncertainties surrounding the trade war between China and the United States sapped trading activity in both the futures and physical markets for Chinese rebar on Monday August 5, resulting in prices falling further.Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($546-551) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,730-3,760 yuan per tonne, down 20 yuan per tonneSeveral analy...Read More